Resumen de A mathematical programming approach for different scenarios of bilateral bartering

Stefano Nasini, Jordi Castro Pérez , Pau Fonseca Casas

• The analysis of markets with indivisible goods and fixed exogenous prices has played an impor- tant role in economic models, especially in relation to wage rigidity and unemployment. This paper provides a novel mathematical programming based approach to study pure exchange economies where discrete amounts of commodities are exchanged at fixed prices. Barter processes, consist- ing in sequences of elementary reallocations of couple of commodities among couples of agents, are formalized as local searches converging to equilibrium allocations. A direct application of the analysed processes in the context of computational economics is provided, along with a Java implementation of the described approaches.